Consolidation Coal Co. v. Utah Division of State Lands & Forestry

I concur in the majority’s determination that the State is entitled to additional royalties from Consol. I dissent, however, from the majority’s conclusion that section 15-1-1 does not apply in this case and in its decision to allow the Board unilaterally to modify the interest rate on amounts owed under its existing contracts.

Statutory Prejudgment Interest

The trial court was clearly correct in awarding prejudgment interest pursuant to section 15-1-1. This statute has consistently been interpreted to specify the prejudgment interest rate where it is not specified in the *529contract. See, e.g.,…